PROPERTY AND EQUIPMENT, NET

12 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

NOTE 7 - PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

	September 30,
	2023			2022
Leasehold improvements	$	124,161		$	127,301
Furniture and fixtures		1,205			1,235
Computer equipment		39,110			40,099
Office equipment		1,442			1,480
Subtotal		165,919			170,115
Less: accumulated depreciation		(93,367	)		(36,092	)
Total property and equipment, net	$	72,552		$	134,023

Depreciation expense was $60,165 and $55,666 for the years ended September 30, 2023 and 2022, respectively.

On February 28, 2022, King Eagle (China) entered into a lease agreement for its new office in Beijing. As it moved to a new office premise in May 2022, it removed the leasehold improvement in May 2022 and the estimated useful life of the leasehold improvements of our previous office in Beijing changed from 60 months to 22 months. Accordingly, an additional amount of depreciation expense of the relative leasehold improvements, $16,184, was recognized in May 2022. It also terminated the software services setup in its old office by the end of May 2022 and was eligible for the refund of the cost of the unused services in an amount of $3,677, which was reclassified to other receivables. King Eagle China expects to receive the refund in early February 2023 after it communicated with the corresponding third-party vendor. It also disposed the furniture and fixture in its old office. While it received a sale proceeds for the disposal in an amount of $281, it incurred a loss of disposal of in an amount of $3,752.